MERIDIAN -- The Meridian School District will ask voters to approve a $104 million bond later this year.
School board members say the money will relieve overcrowding by paying for two new middle schools, an elementary school, the remodel of Meridian High School, and the purchase a future high school and middle school site.
But, why does the district need a bond, after passing a supplemental levy just last March?
The levy that we ran was for operations. That's used to hire teachers, turn on lights, run buses. This is specifically to build buildings, said school district spokesman Eric Exline.
So, how much will it cost the average homeowner?
To pay for the current levies, residents pay $438 for every $100,000 in taxable value.
However, because of all the new developments, and the nearly 18 percent increase in the taxable value of property in the district, even if the bond passes, that tax rate would drop to $399 per $100,000 in taxable value.
Of course, that rate would drop even more if the bond fails.
The bond election is August 26. It needs a two-thirds majority to pass.